2011 Session

Budget Amendments - SB800 (Committee Approved)

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Employer VRS Teacher Rate Increase By 2.4%

Item 132 #10s

Item 132 #10s

First Year - FY2011 Second Year - FY2012
Education: Elementary and Secondary
Direct Aid To Public Education FY2011 $0 FY2012 $30,959,938 GF

Page 105, line 16, strike "$5,439,278,512" and insert "$5,470,238,450".
Page 406, line 31, strike "7.16 percent" and insert "6.33 percent".

(This amendment restores $31.0 million for the state's share of the increase in the employer teacher retirement contribution rate. A companion amendment reverses the $53.2 million for the increase to 7.16 percent proposed in the introduced budget, reflecting a net state savings of $22.3 million against the introduced budget. These amendments are based on a second year employer teacher retirement contribution rate of 6.33 percent, which represents an increase of 2.4 percent over the first year rate of 3.93 percent.)